Correlation Between Yuanta SP and Yuanta Treasury
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By analyzing existing cross correlation between Yuanta SP GSCI and Yuanta Treasury 1 3, you can compare the effects of market volatilities on Yuanta SP and Yuanta Treasury and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Yuanta SP with a short position of Yuanta Treasury. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta SP and Yuanta Treasury.
Diversification Opportunities for Yuanta SP and Yuanta Treasury
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yuanta and Yuanta is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta SP GSCI and Yuanta Treasury 1 3 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yuanta Treasury 1 and Yuanta SP is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Yuanta SP GSCI are associated (or correlated) with Yuanta Treasury. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yuanta Treasury 1 has no effect on the direction of Yuanta SP i.e., Yuanta SP and Yuanta Treasury go up and down completely randomly.
Pair Corralation between Yuanta SP and Yuanta Treasury
Assuming the 90 days trading horizon Yuanta SP GSCI is expected to under-perform the Yuanta Treasury. In addition to that, Yuanta SP is 4.79 times more volatile than Yuanta Treasury 1 3. It trades about -0.12 of its total potential returns per unit of risk. Yuanta Treasury 1 3 is currently generating about 0.46 per unit of volatility. If you would invest 3,119 in Yuanta Treasury 1 3 on September 3, 2024 and sell it today you would earn a total of 78.00 from holding Yuanta Treasury 1 3 or generate 2.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta SP GSCI vs. Yuanta Treasury 1 3
Performance |
| Timeline |
| Yuanta SP GSCI |
| Yuanta Treasury 1 |
Yuanta SP and Yuanta Treasury Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta SP and Yuanta Treasury
The main advantage of trading using opposite Yuanta SP and Yuanta Treasury positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta SP position performs unexpectedly, Yuanta Treasury can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Yuanta Treasury will offset losses from the drop in Yuanta Treasury's long position.| Yuanta SP vs. Yuanta Daily SP | Yuanta SP vs. Yuanta Securities Investment | Yuanta SP vs. Yuanta Global NexGen | Yuanta SP vs. Yuanta SP GSCI |
| Yuanta Treasury vs. Yuanta Daily SP | Yuanta Treasury vs. Yuanta Securities Investment | Yuanta Treasury vs. Yuanta SP GSCI | Yuanta Treasury vs. Yuanta Global NexGen |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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